TDS SECTION 194Q

This query is : Resolved

Rajkumar Gutti (Querist)
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10 June 2021 TDS SECTION 194Q W.E.F. 01.07.2021. IN THIS REGARD
MY QUERIES IS-
BUYERS BUYING TRANSACTION THRESHOLD LIMIT IS 50 LAKHS
WHETHER TDS U/S 194Q IS DEDUCTIBLE FROM RS. 1 OR AFTER
DEDUCTING 50 LAKHS RS.
FOR EXAM.
PURCHASE 100LACKS
LESS- 50LAKHS
ELIGIBLE AMT.FOR TDS -50 LAKHS
OR ENTIRELY WHOLE 100 LAKHS ( ELIGIBLE FOR TDS)

PLEASE GUIDE US

CMA Poornima Madhava

CMA Poornima Madhava (Expert)
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10 June 2021 Tax to be deducted u/s 194Q only after crossing the threshold limit and on the value exceeding the threshold limit of Rs.50 lacs. So in this case, tax to be deducted at source on remaining 50 lacs after crossing the threshold limit of 50 lacs.

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